Kuala lumpur: Bursa Malaysia's benchmark index fell by 0.43 per cent, closing at its intraday low as late-session selling wiped out earlier gains. The FTSE Bursa Malaysia KLCI (FBM KLCI) ended 7.23 points lower at 1,656.83, reversing Tuesday's close of 1,664.06. The index opened slightly higher and reached an intraday peak in the mid-morning before losing momentum.

According to BERNAMA News Agency, Mohd Sedek Jantan, IPPFA Sdn Bhd's director of investment strategy and country economist, noted that the market traded positively throughout most of the day. However, profit-taking intensified towards the session's end, reflecting investors' cautious approach amid a lack of new market stimulants.

Despite the weaker closing, local institutional investors' net buying of RM199 million yesterday is expected to provide a buffer against foreign selling pressures. Mohd Sedek mentioned that market sentiment might remain fragile in the near term unless domestic catalysts emerge or there is more clarity on the global interest rate outlook.

Among the heavyweights, Maybank and Tenaga Nasional experienced declines, while CIMB saw a slight increase. Active counters like Tanco and VS Industry remained stable, while Dagang NeXchange and others showed improvements.

On the broader market, various indices, including the FBM Emas Index and the FBM Top 100 Index, registered losses. The Main Market volume and warrants turnover also witnessed a decline compared to the previous day. Sector-wise, there were mixed performances, with the Financial Services Index seeing a significant drop and the Energy Index showing gains.

Consumer products and services, along with other sectors, accounted for a significant portion of shares traded on the Main Market, indicating varied activity levels across different industries.